Gross Domestic Product, GDP (Y), can be calculated using the expenditure method and the following equation: Y= C + I + G

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answerhappygod
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Gross Domestic Product, GDP (Y), can be calculated using the expenditure method and the following equation: Y= C + I + G

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Gross Domestic Product, GDP (Y), can be calculated using the
expenditure method and the following equation: Y= C + I + G + NX.
For each of the transactions below, identify if it would be
included in Irish GDP, and if so under which component(s). Briefly
explain your answer.
a. Your mother buys you a bottle of champagne for your
birthday
b. An Irish farmer sells goats milk to an Irish cheesemonger
c. The government hires 500 new primary school teachers
d. The government pays a summer bonus of €100 to job seekers [20
marks]
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